MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	SUPERNOVA ENGINEERS LIMITED [w.e.f. 21.04.1995]

Formerly Known As :	SUPERNOVA ENGINEERS PRIVATE LIMITED

Country :	India

Financials (as on) :	31.03.2013

TAN No.: [Tax Deduction & Collection Account No.]	AHNS00113B

PAN No.: [Permanent Account No.]	AACCS6758G

Legal Form :	A Closely Held Public Limited Liability Company

No. of Employees :	125 (Approximately)

BUSINESS DETAILS

Line of Business :

Manufacturer of Diesel Generators Sets.

Products :

PRODUCT DESCRIPTION

ITEM CODE

D.G. Set

8502.11

Exports :

Products :

Finished Goods

Countries :

· Sri Lanka

· Nepal

· Tanzania

Imports :

Products :

Raw Material

Countries :

· UK

· Sweden

Terms :

Selling :

LC and Credit

Purchasing :

LC and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

125 (Approximately)

Bankers :

· Development Credit Bank Limited, “Prerna Arcade”, Ground Floor, Opposite Doctor House, Near Parimal Garden, C G Road, Ahmedabad, - 380006 Gujarat, India

· Bank of India, Ahmedabad Corporate Banking Branch, 2^nd Floor, Bank of India Building, Bhadra, Ahmedabad – 380001, Gujarat, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Term Loans From Banks	28.614	31.769

Short Term Borrowings
Loans Repayable on Demand From Banks [Working Capital Loans are secured by first pari paasu charge on all current assets of the Company along with personal guarantee of all the directors]	150.608	75.084

TOTAL	179.222	106.853

UNSECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short Term Borrowings
Term Loans From Banks	19.718	125.452

TOTAL	19.718	125.452


Banking Relations :	--

Auditors :
Name :	Talati and Talati Chartered Accountant
Address :	2^nd and 3^rd Floor, Ambica Chambers, Near Old High Court, Navrangpura, Ahmedabad-380009, Gujarat, India
Tel. No.:	91-79-27544571 / 72
Fax No.:	91-79-27542233 / 30084575
PAN No:	AAAFT4520A

Other Related Parties :	· Supernova Systems Private Limited [U31110GJ1989PTC012833] · Autonova Motors Private Limited [U50100GJ2005PTC045283] · Nixynova Motoren Private Limited [U50100GJ2008PTC053617]

MAJOR SHAREHOLDERS

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Samit Mistry	654750
Unmesh Mistry	669900
Nitin C Thakkar	150000
Vasudev Keshavlal Mistry	235600
Surekhaben Mistry	211100
Trupti Mistry	387150
Hita Mistry	228000
Samir Vasudev Mistry HUF	400600
Unmesh Vasudev HUF	17100
Vasudev Keshavlal Mistry HUF	180800
Supernova Systems Private Limited, India	465000

TOTAL	3600000

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	36.000	36.000	36.000
(b) Reserves & Surplus	215.185	204.686	193.134
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	251.185	240.686	229.134

(3) Non-Current Liabilities
(a) long-term borrowings	28.614	31.769	24.551
(b) Deferred tax liabilities (Net)	19.122	18.024	19.010
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.794	2.033	1.467
Total Non-current Liabilities (3)	48.530	51.826	45.028

(4) Current Liabilities
(a) Short term borrowings	170.326	200.536	90.296
(b) Trade payables	440.833	202.322	246.508
(c) Other current liabilities	36.607	36.300	57.111
(d) Short-term provisions	2.103	1.678	1.401
Total Current Liabilities (4)	649.869	440.836	395.316

TOTAL	949.584	733.348	669.478

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	151.757	161.910	177.894
(ii) Intangible Assets	0.640	0.907	1.174
(iii) Capital work-in-progress	17.098	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.166	0.166	0.166
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	8.193	10.504	13.886
(e) Other Non-current assets	0.119	0.082	0.096
Total Non-Current Assets	177.973	173.569	193.216

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	201.814	130.945	85.392
(c) Trade receivables	332.654	201.359	177.802
(d) Cash and cash equivalents	203.086	199.954	183.864
(e) Short-term loans and advances	32.350	26.369	27.766
(f) Other current assets	1.707	1.152	1.438
Total Current Assets	771.611	559.779	476.262

TOTAL	949.584	733.348	669.478

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	869.771	803.386	1040.134
		Other Income	20.661	17.356	26.818
		TOTAL (A)	890.432	820.742	1066.952

Less	EXPENSES
		Cost of materials consumed	671.142	629.722	862.176
		Purchases of stock-in-trade	8.314	0.000	0.000
		Employee benefit expense	24.324	28.120	26.665
		Other expenses	123.635	102.191	119.364
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	0.245	(0.245)	14.121
		TOTAL (B)	827.660	759.788	1022.326

Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		62.772	60.954	44.626

Less	FINANCIAL EXPENSES (D)		31.496	28.942	17.410

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		31.276	32.012	27.216

Less	DEPRECIATION/ AMORTISATION (F)		13.494	17.469	18.509

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		17.782	14.543	8.707

Less	TAX (H)		7.283	2.991	5.976

	PROFIT / (LOSS) AFTER TAX (G-H) (I)		10.499	11.552	2.731

	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	0.000	2.348	8.316

	IMPORTS
		Raw Materials	387.173	408.563	346.368

	Earnings / (Loss) Per Share (Rs.)		2.92	3.21	0.76

Particulars

31.03.2014

Sales Turnover (Approximately)

1500.000

Expected Sales (2013-2014): Rs.1600.000 Millions

The above information has been parted by Mr. Hemant Chowksi (Marketing Manager)

FINANCIAL RESULTS AND OPERATIONAL REVIEW:

During the year, the Company has earned a profit before tax of Rs. 17.782 Millions after providing Rs. 13.494 Millions for depreciation and Rs. 31.496 Millions for financial expenses. The Company has also made provision of Rs. 7.283 Millions for Income tax expenditure after considering Mat Credit Entitlement, short provision of Income tax, excess provision of deferred tax. After taking into accounts the previous year profits of Rs. 168.908 Millions, the total profit carried to balance sheet stands at Rs. 179.407 Millions. During the year, the Company has earned total income of Rs. 952.764 Millions from sale of products and service income. The Company has also received Rs. 27.801 Millions from other sources. The Company also received Rs.7.140 Millions from other operating revenues.

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Exist

LITIGATION DETAILS:

HIGH COURT OF GUJARAT

TAX APPEAL No. 1827 of2009

Status : PENDING

( Converted from : ST/1808/2009 )

CCIN No : 001092200901827

Last Listing Date:

12/02/2014

Coram

· HONOURABLE MR.JUSTICE AKIL KURESHI

· HONOURABLE MS JUSTICE SONIA GOKANI

S.NO.	Name of the Petitioner	Advocate On Record
1	COMMISSIONER OF INCOME TAX-IV	MR NITIN K MEHTA for: Appellant(s) 1

S.NO.	Name of the Respondant	Advocate On Record
1	SUPERNOVA ENGINEERS LTD	MR TEJ SHAH for :Opponent(s) 1


Presented On	: 15/06/2009	Registered On	: 15/06/2009
Bench Category	: DIVISION BENCH	District	: AHMEDABAD
Case Originated From	: THROUGH ADVOCATE	Listed	: 53 times
StageName	: FOR FINAL HEARING - TAX MATTERS

Classification	DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 78 DB - BANKING MATTERS - BAKING REGULATION ACT, 1949 - RELATING TO RESERVE BANK O INDIA & OTHER BANKS UNDER THE BANKING REGULATIONS ACT AND OTHER BANKING LAWS.
Act	INCOME-TAX ACT, 1961

Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	15/08/2009	VAKALATNAMA	MR TEJ SHAH ADVOCATE for RESPONDENT(s) 1	-	MR TEJ SHAH:1
2	15/08/2009	VAKALATNAMA	MS PAURAMIB SHETH ADVOCATE for PETITIONER(s) 1	-	MS PAURAMI B SHETH:1
3	29/07/2011	VAKALATNAMA	MR TEJ SHAH ADVOCATE for RESPONDENT(s) 1	5	MR TEJ SHAH:1
4	15/05/2012	APPEARANCE NOTE	MS PAURAMIB SHETH ADVOCATE for PETITIONER(s) 1	-	MS PAURAMI B SHETH:1
5	15/03/2014	APPEARANCE NOTE	MR NITIN K MEHTA ADVOCATE for PETITIONER(s) 1	0	MR NITIN K MEHTA(3286) for P:1

Court Proceedings

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	22/03/2011	10	1	TAX APPEALS - GROUP E MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
2	02/05/2011	10	-	TAX APPEALS - GROUP E MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
3	15/06/2011	7	-	TAX APPEALS - GROUP E MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
4	12/02/2014	7	-	FOR FINAL HEARING - TAX MATTERS		· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI

Available Orders

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

Download

TAX APPEAL/847/2009

· HONOURABLE MR.JUSTICE D.A.MEHTA

· HONOURABLE MS.JUSTICE HARSHA DEVANI

15/04/2010

JUDGMENT

N N N N N

Download

TAX APPEAL/1827/2009

· HONOURABLE MR.JUSTICE AKIL KURESHI

· HONOURABLE MS JUSTICE SONIA GOKANI

15/06/2011

ORDER

Download

Certified Copy

S. No.	ApplicantName	ApplicationType	Application Date	UOL Number	Order Date	Notify Date	Delivery Date	Status	Nature Of Document
1	MRS MAUNA M BHATT	ORDINARY	16/06/2011	O/21033/2011	15/06/2011	23/06/2011	24/06/2011	Delivered	ORDER

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered Office :	F2, First Floor, Shapath Hexa, Near Sola Bridge, Opposite Gujarat High Court, Sarkhej Gandhinagar Road, Ahmedabad-380060, Gujarat, India
Tel. No.:	91-79-32422163/26401450/26407792/49009500
Mobile No.:	91-9327140005 [Mr. Hemant]
Fax No.:	91-79-26400004
E-Mail :	hjp@supernoragenset.com hc@supernovagenset.com jms@supernovagenset.com marketing@supernovagenset.com
Website :	http://www.supernovagenset.com
Area :	4000 Sq. Ft
Location :	Owned

Marketing Office :	3^rd Floor, Gopal Palace – ‘A’ Wing, Opposite Ocean Park, Nehru Nagar Cross Road, Ahmedabad, Gujarat, India
Tel. No.:	91-79-32422163/ 32422166/ 26766824
Fax No.:	91-79-26766825
E-Mail :	marketing@supernovagenset.com

Factory 1 :	Rajpur 1470/1, Village, Rajpur, Taluka, Kadi, District Mehsana, Gujarat, India
Tel. No.:	91-2764-324852/ 856
Fax No.:	91-2764-278469
Area :	10000 Sq. Mtr
Location :	Owned

Factory 2 :	Silvasa Survey No. 263/2/1, Plot No. 1, Village Sayli, Silvassa, Dadra and Nagar Haveli, India
Tel. No.:	91-260-2996630/ 32
Fax No.:	91-260-2996631
Area :	40000 Sq. Ft
Location :	Owned

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.